India: Aptus Value Housing Finance secures $111m from anchor investors ahead of IPO

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Aptus Value Housing Finance India Ltd on Monday raised 834 crore from anchor investors, which opens for subscription on Tuesday and closes on Thursday.

The company has decided to allocate 23.63 million equity shares to anchor investors at 353 apiece, valuing the transaction size to 834.02 crore, according to a circular uploaded on the BSE website.

WF Asian Reconnaissance Fund, Neuberger Berman, Aberdeen Global, Steadview Capital, Copthall Mauritius, SmallCap World Fund, The Genesis Group, Nomura, Edelweiss Tursteeship, Axis Mutual Fund (MF), are among the anchor investors.

Out of total allocation of 23.63 million equity shares to anchor investors, 1.95 million equity shares (8.27% of total anchor book) have been allocated to 3 mutual funds which have applied through a total of 7 schemes.

Aptus Value Housing is one of the largest housing finance companies in South India in terms of asset under management, as of March 31, 2021 and having the largest branch network in South India among its peers. The price band for the Offer is at Rs. 346 – Rs. 353 per Equity Share.

The offer comprises of a fresh issuance of equity shares, aggregating up to Rs.5000 million and an offer for sale of equity shares aggregating up to 64.59 million equity shares by the selling shareholders.

The net proceeds from the offer will be utilized towards augmenting the company’s tier 1 capital requirements.

The offer is being made in accordance with Sebi regulations, through the book building process wherein not more than 50% of the offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer shall be available for allocation to non-institutional bidders and not less than 35% of the offer shall be available for allocation to retail individual bidders.

ICICI Securities Limited, Citigroup Global Markets India Private Limited, Edelweiss Financial Services Limited and Kotak Mahindra Capital Company Limited are the book running lead managers to the offer.

The article was first published on livemint.com

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.